Galaxy eSolutions Invests in O2O Smartphone Maintenance Platform 'Accelerate'
Cyzone, 7/17/18
Guangzhou-based Xiuke Information Technology, operator of O2O smartphone maintenance platform Jiasudu ("Accelerate"), recently announced the completion of RMB 8-digit Series A funding from Hong Kong-based cross-border e-commerce company Galaxy eSolutions. Accelerate also announced the formation of strategic partnerships with C2C second-hand m-commerce app Zhuan Zhuan, P2P travel equipment rental platform Neisha.cc, and other service platforms to provide smartphone repairs, smartphone quality inspection, and smart equipment rentals. Accelerate plans to turns its offline shops into "smart device convenience stores."
Accelerate smart device convenience stores will use a franchise system where the franchisee provides a retail outlet and RMB 300,000 investment, but management rights belong to Accelerate. Profits will be split 70-30 between the investor and Accelerate. Accelerate has already won RMB 15 mln in funding from MINIPO that can support 50 smart device convenience stores.
Accelerate is planning to build 100 offline stores across Guangzhou, Shenzhen, Dongguan, and Foshan, according to CEO Huang Songbing. Afterwards, the company will gradually expand to 100 cities and a total of 1,000 stores.
Accelerate currently has 20 offline stores, providing coverage of 15 cities, including Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chengdu, Wuhan, Nanjing, and Hangzhou. The company's official account on Tencent's (0700.HK) WeChat mobile messaging app has 2 mln followers, and the company has serviced 500,000 handsets.
Editor's Note: For more information on this topic, please see O2O Smartphone Maintenance Platform 'Accelerate' Lands RMB 8-digit Pre-A, MD 6/05/17 issue.
Keywords: Galaxy eSolutions M&A smartphone Internet funding second-hand Xiuke Jiasudu equipment rental repair and trade-in
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